BUYS PUTNAM

Franklin Templeton has announced it is buying Putnam Investments from GreatWest Lifeco. This is a typically acquisitive move by Franklin Templeton that adds to its retirement business and increases its assets by a further $136 billion.

Continuing the work of the previous CEO Gregory Johnson, Jenny Johnson has been further building the company's alternative offerings, given the higher fees and longerterm investments through retirement plans.

As part of the Putnam deal, Great-West Lifeco has agreed to allocate $25 billion to Franklin's alternative funds.

Grew To Stamp Mark On Man Group

Once the dust had settled on Man Group announcing its new CEO, Robyn Grew, Bloomberg's Barry Ritholtz got the first interview for his Masters in Business podcast (link).

The podcast is a perfect example of the direction of travel in the media - with podcasts proving a brilliant medium for getting out key stories and introducing/ getting to know influential characters. When you have an articulate interviewee like Grew, a podcast is a no-brainer, and a simple way to break down personal and professional barriers.

In Ritzholtz’s podcast, Grew talks about how a barrister came to be running the world's largest listed hedge fund.

Grew, who will take over the reins in September from Luke Ellis, clearly has big ambitions and will continue to build on Ellis’ legacy. Unsurprisingly, given the firm's quant bent, this includes investing in AHL and the other quant businesses. Grew is also looking to build a US presence and acquisitions that will add value to the firm's strategies and offerings.